Most people agree that cracking your nest egg before you reach retirement age should be considered an option of last resort. But when life throws something unexpected at you—the loss of a job, an illness, or another need to pay for a large expense—you may find yourself looking at borrowing from your retirement savings to […]
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As consumers around the country prepare for the end of summer, many are getting organized for back to school season. This is also an opportune time to make a checklist to clean up your financial house and conduct an annual review of your 401(k) plan so that you are taking advantage of all the benefits […]
Here’s a big word for you from the world of behavioral finance – hyperbolic discounting. Hyperbolic discounting is a time-inconsistent model of discounting. Ok, that didn’t help much. Think of it this way – humans have a tendency to value short-term rewards over longer-term rewards, even when mathematically the rewards are worth the same. The […]
A zero-sum game is a situation in which one person’s gain is equivalent to another’s loss, so the net change in wealth or benefit is zero. For example, let’s look at your typical Poker game. The first round of Poker begins with each player placing a specific amount of money into the center of the […]
As a firm owner or partner, you are invested in the success and overall financial health of your employees just as much as your own. Regardless of the size of your practice, offering a retirement plan has many benefits including attracting and retaining top talent. In this article you will find useful information about different […]